gold's rise: effect on prices

1907Quarter

if your run of the mill eagle(.5oz)coin runs for $350 in XF when gold was 300/oz, would it go for twice that if gold doubled in price down the road?

eagle7

Lets see, that would put gold at 600.00 per oz. If gold hits 600 the coin would sell for more than double probably because gold that high would put a lot of people into a buying frenzy. Its a known fact that most people like to buy when the price is high and sell when it declines. It happens in the stock market, it happens to gold and silver. Human nature I guess. Just a few months ago gold was 267. Now at 370 some people are still bad mouthing it. They will jump on too late.

Steve27

I'm not sure what a "run of the mill eagle" is, but historically coins like $20 Saints have always sold for a significant premium above the price of gold.

michael

well with generic saints it is all about demand and currently there is hot sizzling demand for generic saints in 63/64 holders ngc pcgs and if the cxoins are solid for the grade witrh nice eye appeal and no spots or stains then even better

i see saints trading ms64 nice 64 coins as per the above in the 1100 range before they get back down to 500!

sincerely michael

now i am sure within the next few monthsa many many bags of saints will make their way here to the usa from switzerland! or maybe thety are all dried up for the most part? if so then you will see saints higher and higher ithink they are a great coin and within the next 5 years you will see generic saints in lets say ms 64 pcgs/ngc a coin that is nice for the grade with great eye appeal and no spots stains i think tyou will see these coins becoming more li9ke a collected type coinj or a rrasl numismatic coin other than just a commodity!

well i guess for the abobve only time will tell

sincerely michael

cdmead

The supply of gold in Europe is mind bogglingly large.

I personally believe that someday, someone will do the math and find more 1904 $20 Liberty coins extant than were actually minted. Yes, it's cynical, but imagine that about 100 pounds of gold (~1500 $20 gold pieces) takes up an area the size of a shoe box. Now think about how large the vault is at your bank. Now imagine the entire country of Switzerland....

There is no danger of Saints drying up anytime soon.

MadMonk

I think I remember something about the europeans taking the U.S. to the cleaners by handing us a pile of Gold backed currency and demanding the gold. Has anyone else heard or read this. It's been Too long ago that I heard/read this for me to be sure. Anyway. I remember a number like 700,000,000 dollars worth of gold.

littlewicher

I watched a show on Fort Knox, and they said the bars at that time were each worth around $40,000 a piece! There are literally piles and piles of the things just lying around, that's a lot of gold!

roadrunner

From sources I've read we have 250 million ounces of gold in our stockpiles. It would be nice if it were still there. That's about 1% of the "value" of the US paper money out there. When Nixon took us off the gold standard in the 1970's we had covered our currency with about 5% in gold stockpiles.

That 250 million oz of gold is worth about 92 billion dollars. That pales in comparison to the over $30 trillion in paper backed derivatives that JP Morgan Co. alone has. A ratio of 326 to 1. Throw in the rest of the banks and you get 1000 to 1. There's lot of paper instruments out there! Not so much available gold. Where's the BEEF?

roadrunner

Goldmember

Gold...what more can you say...